Crosses Currencies Analysis 6/01/2011 FXCBS

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Thursday January 6 , 2011

Crosses Currencies Analysis

EUR/GBP

http://www2.fxcbs.com/newsletter/images/EURGBP.gif

Stochastic indicators for the pair Euro against the Sterling showing positive sign which may push the pair to rise up to the target of 0.84250 first then to the level of 0.85050, these expectations require a closing four hours candlestick above the level of 0.84000.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/GBP 0.84953 0.85141 0.85460 0.84953 0.84555 0.84359 0.84040

EUR/JPY

http://www2.fxcbs.com/newsletter/images/EURJPY.gif

The pair Euro against the Japanese Yen still trading below the level of 127.2% Fibonacci , determined indicators still showing negative sign , all of that lead us to expect that the pair will decline more today , but we need clear penetration for the level of 108.500.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/JPY 109.803 110.143 110.712 109.240 109.121 108.781 108.212

GBP/JPY

http://www2.fxcbs.com/newsletter/images/GBPJPY.gif

Determined indicators for the pair Sterling against the Japanese Yen showing negative sign also strength indicator now around 70.000 so we expect that the pair will decline today to the level of 128.170 then 127.340, these expectations require a clear penetration for the level of 128.500.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/JPY 129.650 130.142 130.972 128.617 128.610 128.173 127.343

Crosses Currencies Analysis
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